I am sharing the trading plan for the Euro I have on January the 17th, to my newsletter subscribers (published in the mid-week update, you can see an example here) . I update this plan every Wednesday and Sunday with what I anticipate in the Euro going forward. In a separate post I have also recorded a video commenting on the intermediate trading plan which I am referencing now since a few weeks. Notice that price projections you will find in the above video are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary Trading Method based on the observation of the effects of Program Trading on price.
‘We are currently still in the leg B1 introduced in the intermediate trading plan for the Euro which I shared with you last week. Hereunder gain the description of the B1 scenario.
B1: this first leg higher is the currently in play and will complete at 1.3440 or above. It’s important to notice that the 1.3510 area is strong resistance and I anticipate at least a mild reaction from this level. This reaction will bring price down into the 1.3440 area again, or below down to the 1.3390 area. I do not anticipate, at the moment, a retrace below this level if/after price touches the 1.3510 area. Once price will have found support between 1.3390-1.3440 the next leg higher (B2 below) should start.
The above picture shows the current market dynamics and structure. Price found support in the 1.3257 area with targets above clustered in the 1.3470-80 (first target). The 1.3510 area is going to offer strong resistance and we could see a mild retracement below those levels. Once/if the 1.3510 will be exceeded by price we should see it quickly move into the 1.36 level.’
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